Construction begins on $60M Canal apartment project

January 17, 2013
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9 on CanalWork began this week on a $60 9 on Canalmillion apartment and retail development along Ninth Street between the Central Canal and Senate Avenue that will be geared toward students and young professionals. The project, now dubbed 9 on Canal, calls for 304 apartment units with a total of 398 beds and 6,000 square feet of commercial space split between the Canal level and along Ninth Street, said Larry Gough, president of Centreville, Mich.-based Investment Property Advisors, which has been working on the plans for more than two years. The final plans call for a 5-story section and a 10-story section, down from an original proposal that would have topped out at 26 floors. The furnished units will range in size from 500 square feet for some one-bedrooms up to 1,300 square feet for a handful of three-bedrooms and rent for between $850 and $1,250 per bed per month. Rent will cover utilities, cable TV, internet, and furnishings. The only extra expense would be if a resident needed a space in the community's underground parking garage. About 65 percent of the units will have one bedroom, and most will boast Canal or city views, Gough said. The developer has secured all approvals and permits and is finalizing a financing deal that includes a mix of bank loans and private equity. Investment Property Advisors' specialty is student housing, and it is working on a similar deal near Ball State University in Muncie. Construction on 9 on Canal is expected to take between 14 and 16 months. Leasing is scheduled to begin in the fall, with the building ready for occupancy by May 2014. The architect is Ratio.

Click on either of the new renderings above for a larger version. To see more perspectives of the building in PDF form, click here. An earlier post on the project that includes links to all of IBJ's coverage of 9 on Canal is available here.

  • Ugh
    It went from a real high-rise to a Holiday Inn, to appease powerful neighboring institutions. Not good.
    Its such a shame that the city made them reduce the height from 26 stories to 10 stories. The awful NIMBYs (Ruth Hayes, etc) that infest our city are holding us back so much.
    • Infrastructure Limitations
      While I'm sure there were some NIMBY forces behind reducing the height of the building (IU), the reality is the area could not accommodate such a large residential building. I work in the 4 story brick building immediately east of the project (you can see it in the pictures) and we are all watching with great curiosity to see how parking and traffic will be managed. I surely hope the sewer systems, electrical grid, etc... are all receiving considerable upgrades, as well. This area of downtown seen very little development. Many of the buildings are historical and have been renovated and repurposed (Stutz complex especially). New construction is great but the sky is not the limit.
    • Good - but not great
      I'm not so sure how many students or others would want to take a 26-story elevator ride every time they want to come or go. So maybe the adjusted height is a good thing. In any case, the design is just OK and it might as well have "RATIO" in bright letters on the side - since it's just a re-do of their standard look...which is unfortunate. The rooftop garden in one of the aerial views has some potential. At least this will bring much needed foot traffic to the area. Hopefully the city will fix all the broken pavement, steps, and fountains to improve the looks. But I think we missed a chance (again) to do something daring.
    • Molly Butters
      "the sky is not the limit" Unfortunately, this is the motto for Indianapolis. Its completely laughable some of the objections NIMBYs like Molly Butters come up with. The infrastracture in DOWNTOWN INDIAPOLIS can't handle a 26 story building?? Are you freaking kidding me?
    • Ridiculous
      How is 26 stories too large for the area? I don't see how 26 stories are too high for this area if Riley Towers aren't too high for their location.
    • This is why we moved
      from Indianapolis. It's sad, the city could be great instead of an also-ran.
    • Yeah...
      It's very disappointing that the height of the building had to be reduced so drastically. I've always wished that we could get high rise development to spread out a bit more from the core of downtown and this was a prime opportunity, now missed. Shame, shame....
    • Retail?
      Is this the building that will have the new downtown Marsh or am I thinking of the other apartment building to come to this area?
    • is there a disconnect
      Wow...where to begin with this one. I will say the design is ok and I like the greenspace and large balconies. First, however, why do we need more student housing in this area? Let's put them across a busy road (West St) and have them play Frogger trying to get to campus. Second, I agree with previous comments that this area is neglected and could bring so many great opportunities but the powers that be are screwing it up.
      • Good location
        Ben, there is built up demand for student housing around the campus, so more towers for students doesn't hurt. I like the building being on this side of West Street. First off, it puts the students nearer to the amenities we want to develop more of: restaurants, bars, clubs, shops, etc. Second, it wouldn't be so bad to find a way to make West Street more pedestrian-friendly. Hundreds more students crossing the street a day may help drivers know they should be and are secondary in the downtown core.
        • 26 stories, about the height of the Regions Bank (or whatever it is called today) would not fit into an area where the tallest neighboring building is what, 3 or 4 stories? Riley Towers stick out like a sore thumb as would this one. At least Riley has some buildings that are mid rise close to it.
        • Progressive and aspirational!
          Wow! I'm impressed with Indy's lack of progression and low aspirations! Let's continue to be boring and trite! :)
        • Flashback
          When the original design called for 26 stories everyone was beating it down because it was out of scale for the location (I agree). Not sure what it takes to make anyone one in Indy happy. In my opinion the design is nice and fits the location well.
        • And I am impressed with Dustins lack of planning and design knowledge. Unless you want a downtown like Orlandos or LA that goes on for miles, has no defined center or mass and contains a bizarre lack of definition, then you need to develop a central core. You don't put in outlyer buildings half mile or more from your central core and think that works. The most impressive downtowns are those that group tall buildings together around the center of town and then reduces height as you get futher away. You don't place a 26 story building in and amongst 2 and 3 story buildings. That is planning 101. Its ok Dustin, I will be happy to give you basic design/planning help as you show a need.
        • Indyman
          Check your facts. "Planning" doesn't make high-rises, land values do. . Look at Methodist Hospital, Methodist Tower, Landmark, Gateway, Winterhouse, Piccadilly...all taller than 9 stories and further north from the downtown "high rise core" on Meridian, Illinois, Capitol. This one would have been "skyline infill", taller than the mid-rises further north but not as tall as the commercial high-rises in the core.
        • collateral damage
          DPW is not interested in making the area sidewalks and intersections safe for area pedestrians, Micah. I am convinced they turn a blind eye because we are not the "right demographic" or politically connected. Apparently our lives are expendable. Maybe this mindset will change when this building is completed. For years residents have literally been BEGGING DPW to make West, 10th, and 11th Street safer so we can walk on our neighborhood streets without the constant real fear of death. We have seniors and disabled residents who are virtual prisoners in their homes. There is no safe pedestrian crossings on 10th or 11th Streets between West and Indiana Ave. On 11th St. and MLK trucks some carrying hazardous materials and speeding cars travel within inches of pedestrians. It's blatantly obvious our safety is neither a concern nor a priority. They continue to ignore our suggestions to calm traffic, install wider sidewalks, and install stop signs. DPW's response has been "It meets city codes."
        • I never said zoning makes high rises, I said good zoning says you keep your high rises at your central core, not a mile away. So infill is putting a 26 story tower within a half mile of a 8 story building? Really? Infill means filling out between existing buildings to match what is around it. Calling this project infill would be like calling a Wal Mart in Lockerbie infill. Landmark has often been criticized for being the sore thumb stuck out on Meridian. I remember when Lilly talked about a 20 story tower on its campus and was talked out of it because of the fact in would detract from Indys central mass. They instead bought several low rise buildings around their campus. A much more harmonious look.
        • 9 on Canal?
          Having already come to terms with all of the other failings on this project...who names this stuff? Try CANAL 9 or 9/CANAL, seeing as Canal Tower and 9th Tower are no longer options.
        • Planning 101?
          Indyman, virtually every city in Europe has highrises punctuated here and there across a low-slung environment. Only a few like London's Canary Wharf have a clear cluster...but even then they have high-rises scattered about. And every major European city without exception is more vibrant than DT Indianapolis. And Indianapolis, by American standards, is a fairly lively downtown. No principles in planning dictate that high buildings should be in the center and should "fan out" from there. Nope. This is just basic NIMBYism and coming up with justifications for Indy's perpetually low aspirations when it comes to urban design.
        • Eeyores
          While other cities are crumbling and regressing, Indy has a steady housing market and is growing its downtown area. Yet, we still have the same people posting comments complaining about how backwards the city is. Good God- Indy has to be the worldwide capital of self-hate and insecurity. Grow up
        • Sassafras, in case you didn't notice, this is not Europe. No matter how hard some people try to make it into Europe. Most European Cities are locked into a very historic center core where you are not going to place new buildings, especially tall ones since most of those cities have height rules in their historic cores. An exception is Frankfurt which did not rebuild its historic center, but built new. It has a central core of tall buildings like most American Cities.
        • Demand
          I always love the, "Why do we need more ______ in this area? Don't we already have enough?" As if your average NIMBY really understands the market forces and demand for the product the way a developer does.
        • Canal Apartments
          Do I understand correctly, these apartments will be rented out like college dorms (like hospital beds), by the bed space?
        • Europe by any other name
          Indyman, Frankfurt is also widely perceived in Germany as being the blandest city in the country, because it's so "American". The occasional highrise outside of downtown is not a purely European phenomenon. Philadelphia has highrises now to the west of the Schuylkill River, outside of Center City. Pittsburgh has the Cathedral of Learning, well outside of downtown and 42 stories. Kansas City has many tall buildings around the Country Club Plaza area, almost like a second downtown. St. Louis has more tall buildings stretching westward toward University City than it does downtown. And look at Houston, for crying out loud... . Indy tries to get a 26-story highrise along its canal to help stimulate it to something beyond a suburban corporate park, and the NIMBYs reduce it by two-thirds. The cycle of urban castration continues. . And Greg, while Indy's downtown has made great strides in the past two decades, it's ridiculous to assume that any criticism is non-constructive. That "steady housing market" resulted in one of the smallest growths of downtown housing units in the 2000s, a generally prosperous decade. And how much longer is Circle Centre going to hang on without a second department store? The last thing Indy needs is more complacency--hasn't that "contentment with mediocrity" brought about enough lousy buildings, with a few more (like that awful OneAmerica parking garage) on the docket?
          • Height
            Should we have restricted the JW Marriott to only 4-6 stories? After all, it sits outside the Mile Square and sits quite a distance from the rest of the skyline. Looks terrible, doesn't it?
          • high-rises in Philly
            Not only are there high-rises in West Philadelphia, well away from Center City, there are five that are student housing built by UPenn in the 1970's: 3 25-story undergrad towers and two slightly shorter graduate towers. Pitt has three dorm towers in addition to the Cathedral. This is how near-downtown landlocked campuses grow: vertically.
          • Overall, Shorter is Better
            If it were one residential tower closer to the city, a taller tower would make sense, like the 31 story tower once proposed at the former Market Square Arena site. I think the original design made attempt to blend in with its neighbors with its brick base roughly the same height with glass in the taller section, but this shorter building will better fit in with its neighbors and not create an overcrowded neighborhood. The canal has an architectural quality comprised of 4-story buildings, and this better fits its neighbors.
          • indy
            im pre-op transsexual male to female,i came to your city for the taylor swift concert,your city was nice to me,are people nice to transgenders there a lot ? well if so i would like to live there,its beautiful and clean,thanks for being nice to me indy !! :)
          • Disappointing
            Not impressed. It's going to look like a damn Holiday Inn and will have no character. Whoever designed this building should spend some time in Dallas, Tx, a very cosmopolitan city. Also reducing the height from 26 to 10 stories is pretty typical of the old conservative farts who run this town. "Wake up Indy", this is the 21st century.

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